Steven H. Ahle

Dec. 6, 2016

Donald Trump continues to create jobs even before he officially takes office. His latest coup is a huge one. Speaking to the press while standing next to Masayoshi Son, who is chairman of Sprint and CEO of SoftBank Group Corp. Donald Trump negotiated a deal with Son for them to invest 50 billion dollars in the United States that in the end will create 50,000 new jobs. Not too shabby for a man who has been labeled as incompetent by the liberals.

It’s unlikely the money will be used on Sprint unless Softbank decides to buy T-Mobile in order to challenge the big boys, but they do have 100 billion to invest and with Trump cutting regulations, the US would become ripe for major investments. US corporations have over 3 trillion dollars sitting offshore hoping to bring the money home but Obama insisted they pay a 36% tax to do so. Trump could offer them amnesty to bring the money home with the promise that they would invest 50% in new businesses or expanding old ones.

“We were talking about it, and then I said I’d like to celebrate his presidential job” because Trump will advocate deregulation, Son told reporters according to Bloomberg News. He said he would invest in “new companies, start-up companies in the United States.”

A Sprint spokesman referred questions to SoftBank. SoftBank officials were not immediately available for comment.

Sprint is unlikely to see any of the investment, analysts said. Its management is in the second year of a massive cost-cutting effort and the company borrowed against many of its assets to fund the turnaround effort on its own.

But Son’s announcement provides some public relations benefit to any potential bid he might make to buy Sprint’s rival T-Mobile USA Inc., analysts agreed.

Son, a billionaire, has been public his plans to buy T-Mobile to better challenge larger rivals Verizon and AT&T. SoftBank aborted an attempt at a merger in 2014 in the face of regulatory objections about eliminating one of the four national wireless competitors.